Machinery/Industrial Goods

General Electric Co.'s stock
GE, +1.82%
slumped 1.2% in morning trade Thursday, on track for a four-week closing low, after The Wall Street Journal reported that the industrial conglomerate was planning to end energy equipment sales in Iran later this year. The stock has now tumbled 8.4% since May 22, when comments by Chief Executive John Flannery at an industry conference helped trigger a pullback from a 3 1/2-month high. Thursday's WSJ report, which cites people familiar with the matter, said GE's plan to end Iran sales follows the U.S. withdrawal from the nuclear deal with the country. Before the withdrawal, GE's foreign subsidiaries were preparing bids of up to $150 million for oil and gas equipment. GE's stock has plunged 19.8% year to date, while the SPDR Industrial Select Sector ETF
XLI, +0.50%
has eased 1.2% and the Dow Jones Industrial Average
DJIA, +0.35%
has slipped 1.0%.

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